Adani Total Gas Limited Mumbai/UNI: Adani Total Gas on Wednesday reported a 12.51 per cent year-on-year decline in consolidated net profit for the quarter ended December 31, 2021 at Rs 127.61 crore, largely on the back of higher expenses.
The company had reported a PAT of Rs 145.87 crore in the corresponding quarter last fiscal, it said in a regulatory filing.
Its revenues from operations stood at Rs 931.81 crore during the October-December 2021 period as compared to Rs 522.27 crore in Q3 FY2021, registering a growth of 78.41 percent.
The company's expenses for the quarter rose nearly two fold to Rs 762.92 crore as against Rs 335.70 crore, a year-ago, largely on the back of a significant rise in gas prices.
Adani Total Gas CEO Suresh P Manglani said, "In Q3 FY22, despite a significant increase in gas prices and lower allocation of APM gas, team ATGL has again delivered an excellent financial and operational performance with EBIDTA of Rs 211 crore, addition of 43 new CNG stations, surpassing of 5.3 lakh PNG home connections and connecting to 5,453 PNG industrial and commercial consumers.
"Overall, it has been yet another outstanding quarter for ATGL."
During the quarter, the company won 14 new Geographical Areas comprising 56 districts in the 11th round of CGD bidding conducted by PNGRB.
“It is heartening to receive Letters of Intent (LOIs) from PNGRB for winning 14 new Geographical Areas in the 11th Round CGD.
"This makes ATGL India's leading CGD player and enables us to continue playing a key role in realising India's vision to enhance the share of natural gas in its energy basket from 7.6 per cent to 15 per cent by 2030," he added.
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